Avalon Announces the Results of its 2025 Annual and Special Meeting of Shareholders
Avalon Advanced Materials (TSX: AVL, OTCQB: AVLNF) held its 2025 Annual and Special Meeting of Shareholders on February 27, 2025, in Toronto, Ontario.
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Rhea-AI Summary
Avalon Advanced Materials (TSX: AVL, OTCQB: AVLNF) held its 2025 Annual and Special Meeting of Shareholders on February 27, 2025, in Toronto, Ontario. During the meeting, shareholders approved all seven director nominees listed in the company's information circular dated January 14, 2025. Additionally, shareholders reappointed Ernst & Young LLP as the company's auditors and approved the issuance of common shares to SCR-Sibelco NV upon conversion of the amended and restated convertible debenture dated November 18, 2024.
Positive
- Shareholder approval for convertible debenture conversion to common shares
- All director nominees successfully elected
Negative
- Potential shareholder dilution from convertible debenture conversion
Details
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Toronto, Ontario--(Newsfile Corp. - February 28, 2025) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company"), announces the results of its 2025 Annual and Special Meeting of Shareholders held in Toronto, Ontario on February 27, 2025 (the "Meeting"). At the Meeting, all seven director nominees listed in the Company's information circular dated January 14, 2025 were elected as directors of the Company. The detailed results of the vote are as follows:
| Director | Number of Votes Cast | Percentage of Votes Cast | |
| Alan Ferry | For: Against: | 169,192,233 6,377,023 | |
| Timothy Haig | For: Against: | 170,297,407 5,271,849 | |
| Flavio Hees | For: Against: | 169,576,015 5,993,241 | |
| Naomi Johnson | For: Against: | 169,160,074 6,409,183 | |
| Alec Kodatsky | For: Against: | 169,217,718 6,351,538 | |
| Scott Monteith | For: Against: | 168,379,929 7,189,327 | |
| Harvey L. A. Yesno | For: Against: | 169,557,071 6,012,185 |
At the Meeting, shareholders also re‐appointed Ernst & Young LLP as auditors of the Company and disinterested shareholders approved the issuance of common shares of the Company to SCR-Sibelco NV upon conversion of the amended and restated convertible debenture dated November 18, 2024, in accordance with its terms.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is an emerging Canadian manufacturing company focused on vertically integrating the Ontario lithium supply chain, by developing the Lake Superior Lithium Facility, Ontario's first midstream lithium hydroxide processing facility in Thunder Bay, Ontario, a strategic link in bridging the lithium resources of northern Ontario with the downstream EV battery manufacturing base in southern Ontario and North America. The Company, through its joint venture with SCR-Sibelco NV, is currently developing its Separation Rapids lithium deposit near Kenora, ON, while also continuing to advance the lithium focused Snowbank and Lilypad Projects. Avalon is also advancing its Nechalacho Rare Earths and Zirconium Project located in the Northwest Territories. This deposit contains critical minerals for use in advanced technologies in the communications and defense industries among other sectors.
For questions or feedback, please email the Company at ir@avalonam.com or contact Ms. Rachel Naji, Investor Relations Manager at 416-364-4938.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242895
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